Emerging Market Debt Indicator – January 2026
Our EM Debt team shares its latest outlook and positioning across the investment universe.
Emerging market fixed income spans sovereign debt, corporate credit, and currencies across a vast and varied universe. It is an asset class defined by disparities in returns, risk, and liquidity, and one that, in our view, rewards deep specialist knowledge over broad market exposure.
Ninety One's Emerging Market Fixed Income team has its roots in emerging markets, it has invested in this universe for more than 30 years, and is a pioneer in local currency debt investing.
Two specialist sub-teams - Emerging Market Sovereign & FX and Emerging Market Corporate Debt - cover the full breadth of the asset class, from sovereign local and hard currency debt to corporate credit and currencies. United by a shared investment philosophy and proprietary analytical framework, they bring specialist depth and rigorous research to a universe where, we believe, active management can reward those with genuine expertise and conviction.
The headwinds facing EM debt today are cyclical and manageable, with mispricing and divergence across countries creating a fertile hunting ground for active investors. Crucially, the strength of structural tailwinds behind the asset class is undiminished.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
Overlapping pressures across agriculture, fertiliser and energy markets could create fresh inflationary risks this year, with wide ranging implications for commodity markets, monetary policy and emerging market assets.
For years, capital has gravitated to the US. A one-way trade powered by tech dominance and economic heft. But as the world tilts on its axis, the next cycle is unlikely to resemble the last, and the investment map is beginning to redraw itself.
Recent election results point to a political pivot with positive implications for debt markets. Dynamics in this key region are reflective of broader shifts across the maturing EM debt market.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
As global investors reassess their allocations, emerging markets are entering the second half of the year from a position of genuine strength.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
As war in the Middle East adds to a series of global supply shocks, emerging markets are showing growing resilience in an increasingly multipolar world.
Frontier markets are increasingly relevant for today’s portfolios, but expertise and conviction are vital for successful investment outcomes.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
Three members of our EM Debt team went to Washington, DC – we asked them to share their highlights and pointers for investors, including a behind-the-scenes perspective on this important annual event.
Oil shocks don’t just disrupt, they accelerate change. Higher prices and energy insecurity are fast-tracking the shift to electrification and clean technology, led by emerging markets.
Reflections on developments across the EM Debt investment universe in March, and the EM Debt team's latest outlook and positioning.
EM debt has become an important component of the global debt market. The transformation has resulted in robust credit quality across a highly diverse opportunity set that’s ripe with alpha-capture potential.
Reflections on developments across the EM Debt investment universe in February, with an update on portfolio positioning in the context of the current conflict in the Middle East.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
As China moves from the Year of the Snake into the Year of the Horse, the next animal in the 12-year Chinese zodiac cycle, investors are asking whether the horse’s association with strength and dynamism will be reflected in how China’s markets are positioned to perform.
After a year that pushed emerging market (EM) debt further into the mainstream, opportunities to capture alpha persist across regions and instruments.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
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This communication is provided for general information only and should not be construed as advice.
All the information in this communication is believed to be reliable but may be inaccurate or incomplete. The views are those of the contributor at the time of publication and do not necessarily reflect those of Ninety One.
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